TY  - JOUR
AU  - Aghion, Philippe
AU  - Akcigit, Ufuk
AU  - Deaton, Angus
AU  - Roulet, Alexandra
TI  - Creative Destruction and Subjective Wellbeing
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 21069
PY  - 2015
Y2  - April 2015
DO  - 10.3386/w21069
UR  - http://www.nber.org/papers/w21069
L1  - http://www.nber.org/papers/w21069.pdf
N1  - Author contact info:
Philippe Aghion
College de France
3 Rue D'Ulm
75005 Paris
FRANCE
E-Mail: p.aghion@lse.ac.uk

Ufuk Akcigit
Department of Economics
University of Chicago
1126 East 59th Street
Saieh Hall, Office 403
Chicago, IL 60637
E-Mail: uakcigit@uchicago.edu

Angus Deaton
School of Public and International Affairs
127 Julis Romo Rabinowitz Building
Princeton University
Princeton, NJ  08544-1013
Tel: 609/258-5967
Fax: 609/258-5974
E-Mail: deaton@princeton.edu

Alexandra Roulet
Insead
Boulevard de Constance
 77300 Fontainebleau, France
France
E-Mail: alexandra.roulet@insead.edu
AB  - In this paper we analyze the relationship between turnover-driven growth and subjective wellbeing, using cross-sectional MSA level US data. We find that the effect of creative destruction on wellbeing is (i) unambiguously positive if we control for MSA-level unemployment, less so if we do not; (ii) more positive on future wellbeing than on current well-being; (iii) more positive in MSAs with faster growing industries or with industries that are less prone to outsourcing; (iv) more positive in MSAs within states with more generous unemployment insurance policies.
ER  -